Bulgarian "Rubin" to take over glass factory in Paraćin

The buyer of Serbian Glass FActory Paraćin, Bulgarian company "Rubin" from Pleven, will officially take over glass factory and appoint new management today (February 16, 2007).

The owner of "Rubin", Jurij Angelov, paid 100,000 EUR for that factory and he also gave banking guarantee in amount of 25m EUR for the investment program, 7.5m EUR of which will be invested in 2007.

It is expected that, after he takes over Serbian Glass Factory that currently employs 1,954 workers, the new owner will dismiss about 300 workers with the severance pays in amount of 160 EUR per year of work.